CRYPTO WILL SAVE THE WORLD

A) Gold is never a hedge against recession if you look through history. It’s not a hedge for inflation, it’s not a hedge against the stock market. Gold can’t pay for anything. Gold is s***.

B) Bitcoin is the new gold:

It can be used for transactions.

It is backed by ten thousand years of science.

It’s not a rock.

It solves the problems of every collapsing currency (examples: Argentina, Iran, China, etc. I can provide more details but bitcoin has been the choice of the populace when their currency fails).

It is a store of value (it’s less volatile than the US dollar right now).

The world is scared to death of privacy. Bitcoin solves the entire problem of privacy with money.

Within the next two months it will have cleared two huge regulatory barriers: an exchange backed by NYSE and an ETF backed by SEC.

It can be transferred (as money) more easily than fiat money or gold. Hence the reason it’s the perfect hedge against a volatile market or currency (and, of course, a volatile market leads to a volatile currency and vice versa).

It is a replacement for simple contract law (wills, divorces, equity stakes, trade finance, loans, etc.). So it’s a huge hedge against a declining faith in a court system plagued by bankruptcies.

FAQ:

(Q)
But what is backing Bitcoin? Gold is REAL.

Gold is a rock. This rock can’t be transferred and can’t be spent and can’t be stored.

And, by the way, my extensive networks in the Intelligence community of the US govt show MASSIVE interest in bitcoin to get cash overseas undetected. One of the biggest owners of bitcoin is Uncle Sam.

(Q) What about all of these hacks stealing bitcoin?

The exchanges we’ve recommended bitcoin for have never been hacked. Plus, the NYSE, MSFT, and SBUX are building their own exchange (which will be unhackable and backed by their insurance) and Fidelity is as well.

(Q) Don’t all the best investors hate bitcoin?

Not true. Marc Andreessen, Peter Thiel, Tim Draper, etc.

(Q) Will companies use bitcoin?

Every Fortune 500 company from Walmart to FedEx to JP Morgan to Goldman Sachs are already using bitcoin and/or blockchain in one form or other.

(Q) But still, what is BACKING bitcoin? The dollar has the faith of the US govt.

10,000 years of math and computer science that has won Nobel-level awards.

The full power of contract law.

The fact that hundreds of billions of dollars are already invested by top investors who are trusting bitcoin over any country’s fiat money.

(Q) Why did bitcoin fall?

Like any financial innovation, there is a boom and bust.

Prior examples of booms and busts in financial innovation:

Junk bonds in the ‘80s

S&L institutions in the early ‘90s

Massive leverage in currencies in the mid-90s

The internet IPO boom of the late ‘90s and early ‘00s

The securitization of energy in 2000-01 (Enron, etc.)

The mega-securitization of housing derivatives in the mid-00s

Bitcoin

EVEN the South Sea Company bounced back to become bigger than it was in it’s bubble in the 1600s (see my book,
“Trade Like a hedge Fund”.)

AND, the internet came back and is now worth trillions. Local banks are bigger than ever. Currency trading is larger than ever. All of the energy companies are bigger than ever. Housing is higher than ever.

Bitcoin will bounce back and be higher than ever. There’s never been an asset that had this much money invested that went to zero.

(Q) What about all the s***coins?

I predicted on CNBC that 95% of alt-coins were scams.

Since then, 80%+ of all coins have gone to zero with more to come. I was the ONLY one predicting this.

NONE of the coins we follow have been scams. We do the research.

(Q) Where is bitcoin going?

Just like gold replaced barter, and paper money placed gold, and fiat money placed paper money (backed by gold), digital currencies will replace all fiat money in the world.

Why? EVOLUTION IS AN UNSTOPPABLE FORCE AND HAS WORKED IN EVERY INDUSTRY.

There is 15 trillion worth of fiat money in the world. There is 150 billion dollars worth of bitcoin.

ALL FIAT MONEY WILL BE REPLACED BY BITCOIN.

And since the supply of bitcoin is FIXED and demand is going to go up 100,000% (the difference between $15 trillion and $150 billion), then bitcoin’s price will be $6,300 (current price) times 1,000 = $6 million.

SO, MY PREDICTION IS:

A) Yes, BITCOIN IS THE HEDGE AGAINST GLOBAL ECONOMIC COLLAPSE AND WILL SAVE THE WORLD.

B) The world and the US is awash in too much debt and by 2021 the next collapse will happen.

C) Bitcoin will go to $6.2 million by 2022. YES, BITCOIN WILL GO TO $6.2 million by 2022!!! And all currencies will be hyped by old losers who used to hype gold.

And finally, my good friend, billionaire Roy Niederhoffer (we both worked for the same hedge fund, he’s been on my podcast, lives next door to me) has so much faith in bitcoin he just put up his house for sale in bitcoin:
Check it out here.

Seriously, look:"And since the supply of bitcoin is FIXED and demand is going to go up 100,000% (the difference between $15 trillion and $150 billion), then bitcoin’s price will be $6,300 (current price) times 1,000 = $6 million."

This guy is good at maths (ironic) or he does not have calculator. Do sane people believe this crappy opinion? Look at the other guy
https://twitter.com/officia...

I did not indeed get in at the price you suckers did, or I did not at all, you never know. I don't care. It just amazes me how people are so delusional and guys like the author of this blog write so much crap.

Hi, I'm
James Altucher

I’m an entrepreneur and angel investor. I’ve achieved the rank of chess master. And I’m the author of the Wall Street Journal bestselling book “Choose Yourself.”

I’ve started 20 companies, 17 of which have failed. But I’ve learned a lot along the way.

If you’ve ever been stuck—in a job you hate, in a house you can’t afford, in a life you don’t want, in your own depressed mind, anything—I want to help you.

Why? Because I get it. I’ve been there. And I wantto tell you how I freed myself so maybe you can start to free yourself, too.

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